Martin describes Julian Robertson as "One of the greatest of the old-timers. 53 years on the Street. He manages the Robertson group of funds. They used to call him, still do call him `Never Been Wrong' Robertson. He has predicted every economic cycle, every debacle, every bull market, and every bear market." Martin says "Of course, he's a very old man now. But his reputation on the Street is like nothing you could imagine. When the segment of his interview was through, his comments alone took the Dow Jones down 50 points. Just on his comments alone. That's how powerful this man's reputation is."

Robertson said that he's worried about the speculative bubble in housing and the fact that more than 1/4 of all consumer spending is now sustained by that bubble, plus the fact that 20 million citizens could lose their homes in a collapse of the speculative bubble in housing, and that the Fed and, indeed, central banks worldwide would act in concert out of desperation to reinflate the global economy in the process, creating an inflationary spiral unheralded in the economic history of the planet.

"Where does it end?" Robertson was asked and he said, "Utter global collapse." Not simply economic collapse; complete disintegration of all infrastructure and of all public structures of governments. Utter, utter collapse. That the end is collapse of simply epic proportion.

In 10 years time, he said, whoever is still alive on the planet will be effectively starting again." Bill Murphy of Letropolecafe.com says "As for Robertsonís comments as they relate to the gold price, we will most likely see the gold price somewhere between $3,000 and $5,000 US an ounce. Wait until the facts surface about how the central banks squandered 2/3 of all their bank reserves to foster a price manipulation scheme. There will be a frenzy to own the stuff like never seen before." Julian Robertson blamed everything on what he calls 'the Bush-Cheney regime'.

He says "they have now consolidated power and money on the planet to the maximum extent possible. The planetís net liquidity, that is its, net free cash flow. Is now a negative number. The planet is not simply sinking into a sea of red ink; it is already sunk. The people just donít realize it yet."

Robertson says "the Bush-Cheney regime is preparing the nation for transition from democracy into dictatorship because a dictatorship will be necessary to control, in 5 yearsí time, food and water riots."

He said "the federal government, that part of Patriot II Act, the internal exile, that the government is going to have to build now huge detention compounds on federal lands, probably in the West where the land is available, to potentially house 50 million or more citizens that will be in financial ruin."

Julian Robertson went on to say "Food production will fall. Any further effort to control environmental destruction will be abandoned. Inflation will run into the double and eventually triple digits. People will be carrying around U.S. dollars in wheelbarrows like Germany."

Robertson said there would be "total collapse of public infrastructure. Total collapse of medical care systems. All public pension plans, Social Security will collapse. All corporate pension plans will collapse."

Robertson backed up his comments with statistics in one statement he said "But, 14% of all real estate transactions now being interest-only mortgages, and another 14% of people now, that, when they bought their homes, originated more than 100% of the purchase price in the mortgage and then borrowed further."

He said "The American consumer is effectively now supporting the rest of the planet, consumption rates in all other nations are falling, have fallen to the point that the tax revenues to governments, that the business and industries those nation states are providing is now a net negative number relative to total debt service and public cost, that this exists in virtually every nation state on the planet now."

He said "More importantly, and I¬īm trying to think how we imply this or how we express this to the people, what extraordinary times we are living in and how the destruction of the planet has been engineered by the Bushonian Cabal from 1980 to 1992, and then from 2001 to present, which has effectively destroyed the economic liquidity of the planet."

When Ron Insana the interviewer said "you have sold all of your real estate and you are moving into one of the new super-secure compounds for wealthy Republicans for when the ¬ībarbarians will be at the gate.¬ī Robertson replied, "Ron, those barbarians will be potentially a third of the American population." Robertson ended his comments by saying that "he hopes that he is not alive to see this. The lucky ones are the ones who are my age now."

I would add to Julian Robertson comments, the lucky ones will be the ones who buy gold and silver coins now, at less than $500 an ounce before the price of gold sky rockets to $3000 then $5000 an ounce and the price of silver goes over $100 an ounce in the years ahead as Julian Robertson's predictions, made in his interview on CNBC, unfold.